Unite Group says student accommodation demand high

Unite Group said it achieved occupancy levels of 99% for the currency academic year as demand for accommodation remained high.

The company said the sales cycle for the 2018/19 academic year was well underway, with 66% of rooms already sold and 56% guaranteed by nominations agreements.

The level of 2018/19 sales made so far supports the outlook for 3.0-3.5% rental growth on a like-for-like basis, the company added.

At 31 December, United Group's student accommodation property portfolio was independently valued at £2.23bn, representing a like-for-like increase of 2.5% in the quarter and 5.6% over the full year.

"The sustained business performance and the strength of the Unite Students brand, together with the development pipeline and growing number of University partnership opportunities means that the business is well positioned to maintain momentum over 2018 and beyond," the company said.